Algorand Foundation and Web3 VC including Big Brain Holdings, Tess Ventures, Sarson Funds, Valhalla Capital, Stealth Capital and more have funded $2.4M into ULTRADE so far. New protocols building B2B DeFi-as-a-Service infrastructure are gaining momentum in Web3, and ULTRADE is leading the charge. The fully featured DeFi trading ecosystem gives brands, projects and communities the ability to instantly launch their own DeFi trading platform and generate and capture trading fees from their audience in an owned experience.
While the technology layer is commoditized, the network participants build and share a unified liquidity cloud that gives ULTRADE the most coveted business advantage of all - network effects. This strong support from investment partners brings ULTRADE closer to building a foundational piece of DeFi infrastructure.
Building ULTRADE V1 on Algorand allows the trading suite to take advantage of Algorand's unique pure proof-of-stake consensus mechanism that solves security, scalability and decentralization. Algorand also boasts zero downtime since it went live in 2019. This fast, decentralized, sustainable and secure blockchain is a great starting place before ULTRADE expands to a complete multi-chain offering.
"We think ULTRADE's DeFi-as-a-Service infrastructure solution, offering a whitelabel suite with limit orderbook and perpetuals trading, has strong product market fit within the current DeFi adoption curve. Such protocol is particularly well suited for a high TPS, instant finality L1 architecture like Algorand. As DeFi evolves and the user base grows, we expect DeFi participants to develop comfort and affinity towards more advanced dex solutions. We are of the view that hybrid exchanges could rival established centralized exchanges by giving users access to deep liquidity without sacrificing custodial control."
Daniel Yang, Head of Investment and Diversification, Algorand Foundation
The company's CEO, Dan Goldman, has been a blockchain/crypto veteran since 2012. Dan's vision is to allow businesses to build their own exchange in one click with ULTRADE's whitelabel DeFi-as-a-Service. The Ultimate Trading suite can seamlessly integrate robust trading tools into any brand experience in minutes: a no-code solution and zero time to market, with ULTRADE's liquidity network. ULTRADE is more of a hybrid exchange platform, offering the best of DeFi trading and CEX with a scalable whitelabel model that allows companies and even influencers to instantly launch a complete DeFi platform without development costs and zero time-to-market.
Since June, the ULTRADE Testnet launch has generated over 190,000 orders and trades. The limit order book DEX has been launched. Leveraged Perpetual DEX, an Integrated Lending Marketplace, and Token Swaps will be accessible starting in October.
The investment received so far, amid a tough bear market, marks strong support for ULTRADE. It also brings them one step closer to their goal of providing brands with the power to launch their own DeFi platforms - without having to jumpstart liquidity or write a single line of code.
Website | Testnet | Twitter | Discord | Telegram | Reddit
* This is a contributed article and this content does not necessarily represent the views of techtimes.com
